Month: November 2015

There is no doubt about it running your own business can be challenging, and you likely have many questions about all aspects of it, including commercial insurance. You will find the following common FAQs about commercial insurance interesting. You might be surprised to see “You” standing in the crowd!

What is professional liability insurance?

This coverage provides liability protection for claims made against your services or products, such as failing to perform work or causing losses as a result of mistakes in these services or products.

Are employees’ personal autos covered under commercial auto insurance policies when they use their cars for business?

Usually a company’s commercial auto insurance includes an endorsement that covers employees using their private vehicles for business. However, the employee’s personal policy would still be the primary insurer and would pay for any damage to an employee’s auto, even when it’s used for business purposes. The endorsement would apply only after the personal coverage is used up.

When should you buy workers compensation insurance?

Most state laws require businesses to carry workers compensation if there’s more than one employee. This varies from state to state, so ask your insurance agent.

What coverage is needed for home-based businesses?

Many small business owners who work from home are not aware their normal homeowners insurance usually doesn’t cover home-based business losses. Sometimes commercial insurance can be added onto homeowners insurance, but coverage may be insufficient. Consider a business-owners policy, which covers liability for yourself, employees, buildings, and more.

I hope I have left you with more questions… I am happy to answer them!

We live in a mobile universe, and our technology changes faster than the speed of light. It seems that every few weeks the tech giants introduce something new, with features that will make life easier for small business.

Unfortunately, I all too frequently find many businesses still operate at normal speed when it comes to the use and protection of their corporate devices. Are you behind the Eight Ball? Have you implemented policies governing your employees’ use of personal devices? Are you still confused about data storage in the era of Big Data.

More to the point, it is possible your insurance protection fails to keep up with the speed at which you are acquiring new technology. With hacking and other invasions of privacy so rampant, it’s vital you should have protection in place in your own mobile universe.

The following includes three important steps to take to ensure you have the proper coverage for your needs:

List all your mobile equipment

That includes cell phones, laptops and other mobile electronic devices. These days, many employees work through their own smartphones and laptops. This poses unique data protection problems; ensure your insurance professional is aware of the practice.

Don’t forget data storage

Cloud storage is a tremendous storage option for small businesses; but does the cloud offer total protection?

Consider your options

The technological boom of the past few years has transformed insurance coverage, and you need a knowledgeable source to sort through all the options. Your insurance professional can decode these options for you.

If you have any concern that you need to bridge the gap from what you know about insurance protection regarding mobile phone use, and what you think you might need yet to become savvy about, touch base with me and let’s have a talk; let’s make sure you are adequately covered – for yourself, your employees, your business.